BNY Mellon announced a triparty repo transaction backed by a tokenized U.S. Treasury with market maker Citadel Securities — the first use of a tokenized asset on a major triparty repo platform. Citadel bought a two-year Treasury via Tradeweb, BNY recorded a tokenized representation on its private digital ledger and settled in minutes instead of the standard T+1 cycle, then the tokenized bond moved seamlessly into an overnight triparty repo as collateral for cash from BNY.

Chainalysis’s latest North America report shows tokenized U.S. Treasuries expanded from $6.86B to $15.42B over the past 12 months, up 125%. Non-U.S. investors are the main driver: Italy leads geolocated value at 29.9%, followed by Portugal at 18.8% and Singapore at 18.2%, while the U.S. itself ranks fourth at just 10.5%. Tokenized Treasuries represent 42.8% of all onchain RWA value, as global demand for dollar assets concentrates through on-chain channels.

Nasdaq-listed Perpetuals.com (PDC) announced on October 14 that it plans to offer tokenized U.S. equities under the SEC’s new five-year Innovation Exemption, becoming the second applicant after OKXICE (the OKX and ICE joint venture). Trading would be run by Delaware subsidiary Kephas Corporation via permissioned automated market maker (AMM) pools on its own Ethereum-compatible chain, Kronos X Public, pairing tokenized stocks against the USDC stablecoin. Trading could start as early as mid-November.

Chainlink Data Feeds and Data Streams went live on the Stellar mainnet, with the Stellar Development Foundation covering all oracle operating costs under the Chainlink Scale program. Soroban smart contracts were previously cut off from the outside world: the $3.54B of tokenized RWA parked on the network could only sit as passive digital warehouse receipts, because real-time asset values could not be verified — and therefore could not back DeFi lending. With oracles in place, lending can recompute collateral ratios per second, safely liquidate large positions, and open the door to prediction markets and perpetuals on tokenized stocks.

Ripple announced two securities-market partnerships on October 14. DriveWealth, the brokerage infrastructure serving 100+ partners, will integrate Ripple’s RLUSD stablecoin on the XRP Ledger for European settlement, with a potential U.S. expansion. Meritz Securities becomes Ripple’s first South Korean securities partner, testing Ripple Custody and tokenization tools. DriveWealth already offers 24/5 U.S. equity trading; the cross-border funding gap left by bank operating hours is now filled by near-real-time stablecoin deposits.